With the clock ticking on key stimulus-funded renewable energy programs, green capitalists are concerned. They are pressing Congress and the Obama administration to extend these funding programs, including the very popular 1603 direct cash grants.
Cleantech investors and developers want more than one-time handouts and are asking for long-term government funding. At stake, they say is the U.S.’s ability to lead the global green economy.
This unabashed call for government money was one of the dominant themes of the (REFF), which recently ended in New York (see here or here for our coverage). At a time when governments in industrialized economies are curtailing spending — or if they aren’t, are being pressed to do so — this call for more government intervention may seem unlikely to get much response. However, Wall Street’s green capitalist argue that governments have always supported strategic industries — like the oil and gas industry or agriculture – and they say renewable energy is one such industry. As is private capital alone can’t invest the large amounts required for clean energy to start making a serious dent on key emission targets, they add.
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